| SEGMENT REPORTING |
Note 14. SEGMENT REPORTING
ASC 280, “Segment
Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company's
internal organizational structure as well as information about geographical areas, business segments and major customers in financial
statements for detailing the Company's business segments.
The Company’s
chief operating decision maker is the Chief Executive Officer, who reviews the financial information of the separate operating
segments when making decisions about allocating resources and assessing the performance of the group. The Company has determined
that it has four operating segments: (1) inland transportation management services; (2) freight logistics services; (3) container
trucking services; (4) bulk cargo container services.
As stated in Note 1,
ACH Center’s operating revenue was less than 1% of the Company’s consolidated revenue for 2018 and the results of operations
for ACH Center was not reported as discontinued operations and was included in the container trucking services segment and freight
logistics services segment below.
The following tables
present summary information by segment for the years ended June 30, 2018 and 2017, respectively:
| | |
For the year ended June 30, 2018 | |
| | |
Inland
Transportation
Management
Services | | |
Freight
Logistic
Services | | |
Container
Trucking
Services | | |
Bulk Cargo
Container
Services | | |
Total | |
| Revenues | |
| | |
| | |
| | |
| | |
| |
| - Related party | |
$ | 2,059,406 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 2,059,406 | |
| - Third parties | |
$ | 3,441,001 | | |
$ | 15,829,444 | | |
$ | 1,096,485 | | |
$ | 638,227 | | |
$ | 21,005,157 | |
| Total Revenues | |
$ | 5,500,407 | | |
$ | 15,829,444 | | |
$ | 1,096,485 | | |
$ | 638,227 | | |
$ | 23,064,563 | |
| Cost of revenues | |
$ | 874,760 | | |
$ | 13,519,486 | | |
$ | 696,998 | | |
$ | 494,449 | | |
$ | 15,585,693 | |
| Gross profit | |
$ | 4,625,647 | | |
$ | 2,309,958 | | |
$ | 399,487 | | |
$ | 143,778 | | |
$ | 7,478,870 | |
| Depreciation and amortization | |
$ | 72,954 | | |
$ | 1,902 | | |
$ | 20,063 | | |
$ | - | | |
$ | 94,919 | |
| Total capital expenditures | |
$ | - | | |
$ | 778,182 | | |
$ | 44,595 | | |
$ | - | | |
$ | 822,777 | |
| | |
For the year ended June 30, 2017 | |
| | |
Inland
Transportation
Management
Services | | |
Freight
Logistic
Services | | |
Container
Trucking
Services | | |
Bulk Cargo
Container
Services | | |
Total | |
| Revenues | |
| | |
| | |
| | |
| | |
| |
| - Related party | |
$ | 2,746,423 | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 2,746,423 | |
| - Third parties | |
$ | 3,012,177 | | |
$ | 4,815,450 | | |
$ | 871,563 | | |
$ | - | | |
$ | 8,699,190 | |
| Total Revenues | |
$ | 5,758,600 | | |
$ | 4,815,450 | | |
$ | 871,563 | | |
$ | - | | |
$ | 11,445,613 | |
| Cost of revenues | |
$ | 620,259 | | |
$ | 3,710,364 | | |
$ | 649,968 | | |
$ | - | | |
$ | 4,980,591 | |
| Total | |
| | | |
| | | |
| | | |
| | | |
| | |
| Gross profit | |
$ | 5,138,341 | | |
$ | 1,105,086 | | |
$ | 221,595 | | |
$ | - | | |
$ | 6,465,022 | |
| Depreciation and amortization | |
$ | 27,857 | | |
$ | 21,510 | | |
$ | - | | |
$ | - | | |
$ | 49,367 | |
| Total capital expenditures | |
$ | 61,359 | | |
$ | 1,053 | | |
$ | - | | |
$ | - | | |
$ | 62,412 | |
Total assets as of:
| | |
June 30, | | |
June 30, | |
| | |
2018 | | |
2017 | |
| | |
| | |
| |
| Inland Transportation Management Services | |
$ | 18,338,099 | | |
$ | 15,552,593 | |
| Freight Logistics Services | |
| 161,667 | | |
| 1,704,946 | |
| Container Trucking Services | |
| 7,228,209 | | |
| 558,482 | |
| Bulk Cargo Container Services | |
| 429,852 | | |
| - | |
| Total Assets | |
$ | 26,157,827 | | |
$ | 17,816,021 | |
|